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Business Accounts for start-ups and small businesses
Get a £200 head-start with your new business bank account1 - plus everyday banking features designed to help start-ups and small businesses.
All your start-up business account needs in one place
£200 to kick things off
Open a Business Account with us online and get £200. How’s that for a helping hand?
Three steps to lock in your £200 business boost.
- Apply between 2 March and 31 March.
- Spend £100 on your business debit card.*
- Set up 2 direct debits.*
*Within 2 months of opening your account.
Terms and conditions of the £200 offer
Your approvers are people listed as signatories on your account. You can find this information on your bank mandate. Your bank mandate is the set of instructions given to us when your business account is opened. Contact us on 0345 072 5555 if you have any queries.
Meet the Business Account that works as hard as you
Looking for other accounts?
Find all the other accounts we offer, including those for schools, charities and community organisations.
Sylwia Golebiowska CEO, Simply GrowWe were attracted to Lloyds for our business banking needs due to their strong reputation, wide range of business services, and the perceived stability and trust that comes with a well-established high street bank.
£200 new business account offer – Terms and Conditions
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These Terms and Conditions explain how this offer works, including who can take part, and what you need to do to receive the payment.
In these terms and conditions “we”, “us” or “our” means Lloyds Bank plc.
1. About this offer
This offer is available to new business customers who apply online for a Business, Charity or Community Account between 2 March 2026 and 31 March 2026, subject to the eligibility requirements below.
This offer is also available to customers who switch an existing current account held with another bank to us, using the Current Account Switching Service (CASS), once their new account with us is open.
The Business, Charity or Community Account, and any transactions made on the account, will be subject to the terms and conditions for the account. Fees and charges may apply.
2. Who can take part
You can take part, if all the following apply:
- You submit an online application for a new Business, Charity or Community Account with us between 2 March 2026 and 31 March 2026. Saved or incomplete applications won’t be eligible.
- We complete all our standard checks on your Business, Charity or Community Account application, and we open it (see below for what we mean by this) by 15 April 2026.
- You do not already hold a Business, Charity or Community Account with us or Bank of Scotland plc.
3. What do we mean by 'open'?
Your Business, Charity or Community Account is opened on the date we send you your sort code and account number. This will be after you applied online.
4. What you need to do to receive the £200
You’ll qualify for the £200 payment if, within two calendar months of when we open your Business, Charity or Community Account, you:
- Spend at least £100 using your Visa debit card on eligible purchases
- Set up two direct debits from your new account.
Make sure there’s enough money in your account, or that you have an authorised overdraft in place (if available on your account) before you spend on your debit card or your direct debits are taken. If you don’t, your account may go into an unauthorised overdraft, and you may be charged fees and interest as set out in your account terms and conditions.
Eligible debit card spending
Debit card spending means purchases of goods or services using your Visa debit card.
Excluded transactions
The following do not count towards the £100 spend requirement:
- Cash withdrawals
- Bank transfers made with or without your debit card
- Debt repayments
- Direct debits and standing orders
- Transactions classified as gambling
- Financial services transactions (money transmission orders, purchases of foreign currency or travellers’ cheques and purchases of financial services such as insurance or investments.)
- Cryptocurrency transactions
- Refunds and chargebacks
- Bank charges, fees, interest, and any other non-purchase transactions
- Fraudulent transactions
Direct Debits
Direct debits must be set up with the organisations you’re paying.
If you’re switching to us using the Current Account Switch Service (CASS), any active direct debits moved to your new account as part of the switch will count towards the requirement to set up two direct debits from your account.
5. When we'll pay you
If you meet the eligibility requirements above, we’ll pay £200 into your new Business, Charity or Community Account during the week starting 6 July 2026. We’ll email you before we make the payment to let you know when to expect it.
Your Business, Charity or Community Account must be open and able to receive payments at the time we try to make the payment.
We can’t pay the £200 into any other account or by cash or cheque.
The £200 payment is made gross, and you’re responsible for paying any tax due on the payment you receive.
We won’t contact you if your Business, Charity or Community Account doesn’t meet the offer requirements.
6. Other important information
- Only one £200 payment is available per customer. If you open more than one account with us, including accounts with Lloyds Bank or Bank of Scotland, we’ll only check the first account you open to see if it meets the offer requirements.
- Only Business, Charity or Community Accounts are eligible for this offer. All other account types are not eligible.
- Existing customers already holding a Business, Charity or Community Account are not eligible for this offer.
- This offer isn’t transferable, and we may change, pause or withdraw it at any time. If you’ve already opened your Business, Charity or Community Account when we make a change, or pause or withdraw the offer, it won’t affect you, as long as you meet the offer requirements.
- We won’t cover any fees or interest you incur if your account goes into an unauthorised overdraft as a result of making payments using your Visa debit card or direct debits.
- The £200 payment cannot be exchanged for any other benefits.
- Our decision on eligibility and payment is final.
Frequently asked questions
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A dedicated bank account has a lot of benefits – and you can apply if you're a freelancer, small business, sole trader or limited company. Keeping small business finances separate from your personal income and having all your transactions in one place can make managing your finances easier.
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You can apply for this account if you’re a sole trader, running your own small business or self-employed.
We also offer accounts for charities and community organisations and an account for schools.
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Check our handy comparison table to see our different account types.
A comparison table of the different Lloyds business accounts. Account
Who can apply?
Where to next?
Account
Business Account
Who can apply?
- UK businesses with annual turnover under £3 million.
- Ideal for start-ups, established business, sole traders and limited companies.
- Turnover over £3 million? See how we can help you
Where to next?
Account
Charity Account
Who can apply?
- Organisations registered with the charity regulator for England and Wales, Scotland or Northern Ireland.
- Organisations with excepted or exempt charity status in England and Wales.
- Less than £250,000 paid in every 12 months.
Where to next?
Account
Community Account
Who can apply?
- Not-for-profit organisations serving their local community such as clubs and associations, unregistered societies, school clubs and PTAs.
- Less than £250,000 paid in every 12 months.
- Not suitable if your organisation pays out surplus money as dividends or profits.
- Not suitable if your organisation is structured and run for the personal benefit of members. Not available to co-operatives, property management companies and residents’ management companies (or equivalent).
Where to next?
Account
School Bank Account
Who can apply?
- Academies, multi-academy trusts or state-funded schools.
- Must be used for core school activities such as payroll and receiving state funding.
- Not suitable for independent schools that are registered with Companies House.
Where to next?
Account
Client Accounts (Designated and Undesignated)
Who can apply?
- Professional firms holding client funds, such as solicitors, accountants, insurance brokers, real estate/managing agents.
Where to next?
Account
Credit Union Account
Who can apply?
- An approved credit union.
- Use the account for business only.
Where to next?
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Yes. You can easily switch banks to a Lloyds Bank start-up business account using the Current Account Switching Service (CASS). Once you’ve given us your details, you can sit back and we’ll manage the rest for you.
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You can open a start-up business bank account online if your estimated turnover for the next 12 months is under £3 million.
The application usually takes around 20 minutes, and we usually need about 4 - 8 business days to open your new account.
Annual turnover between £3 million and £25 million? Find out how to apply
To open your start-up business account, you’ll need the following information:
- a way to take a live photo of your signature and one of yourself
- a form of ID such as your passport or UK driving license
- the name, date of birth and three-year personal address history (including month and year of moving dates), mobile number and email address for everyone connected to the account.
- your start-up or small business name, address, details of your activities and estimated annual turnover.
For limited companies, Companies House must be up to date before we can progress an application. Please allow four days from the date of Companies House registration before applying online or over the phone.
Most customers complete the online application in minutes. In some cases, we’ll ask for extra information to finish our checks, which can add time. We’ll keep you updated if this is the case.
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If you’ve already started an online application, you can continue or check the status of your application at any time using the log on button in your welcome email, which you’ll get once you’ve shared your personal details.
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If you run a start-up or small business, there are various benefits to having a start-up bank account with Lloyds Bank:
- no account fee for the first 12 months – then £8.50 a month
- free debit card
- access to start-up funding options
- make and receive international payments
- business support resources, including tailored advice for your sector
- add other people to your start-up business account (such as co‑directors) with appropriate access and controls.
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There’s no account fee for your first 12 months. Then it’s £8.50 a month. See our Business Account rates & charges for full details, including transaction fees.
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No. We don’t pay credit interest on this account. If you’d like to earn interest, see our business savings options.
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You get access to free accounting software with your start-up business account, and you can export your transaction data for use with most major accounting platforms including Xero and QuickBooks.
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Find out more about our Business Account fees and charges.
Lloyds Business Bank Account fees and charges. Payment type
Charges
Payment type
Introductory offer
Charges
No monthly account fee for 12 months if it’s your first business account with us
Payment type
Monthly account fee
Charges
£8.50 after 12 months
Payment type
Electronic payments in2
Charges
Free
Payment type
Electronic payments out2
Charges
First 100 a month are free / £0.20 each after that
Payment type
Cash payments (in or out)
Charges
£0.85 for every £100 at an Immediate Deposit Machine / £1.50 for every £100 over the counter
Payment type
Cheques (in or out, any amount)
Charges
£0.85 at an Immediate Deposit Machine / £1 over the counter
Payment type
Credit paid in at branch or ATM
Charges
£0.85
Payment type
Credit paid in at an Immediate Deposit Machine, Automated Deposit Machine, through the app
Charges
Free
Payment type
BACS
Charges
File submission: £5.50
BACS Item: £0.15 (a set up fee may apply)
Payment type
CHAPS
Charges
£30
Payment type
Sending and receiving money abroad
Charges
Payment type
Balances below £0 (going overdrawn)
Charges
Payment type
Other account services
Charges
No credit interest is payable on this account.
See the full account rates and charges (PDF, 232KB) and product terms and conditions.
Estimate with our calculator how much your business account could cost per month after the first year.
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In-branch cash and deposit machines, for notes and cheques. Limits and charges will apply.
Other options:
- Withdraw cash, notes only, from any LINK ATM. Most don't charge a fee.
- Withdraw or deposit coins and notes at Post Offices or Banking Hubs. Limits and charges will apply.
- You can find out about your options on LINK's Cash Locator.
- Some locations charge a fee to make a withdrawal or deposit. If they do, it'll be clearly signed in store and on the machine. You'll be able to cancel the transaction if you don't want to pay the charge.
*The tool will be available to sole traders and landlords registered as sole traders.
Independent service quality survey results
Business current accounts
Published February 2026
As part of a regulatory requirement, an independent survey was conducted to ask approximately 1,200 customers of each of the 17 largest business current account providers if they would recommend their provider to other small and medium-sized enterprises (SMEs*). The results represent the view of customers who took part in the survey.
Overall service quality
We asked customers how likely they would be to recommend their business current account provider to other SMEs.
*SMEs include businesses, clubs, charities and societies with an annual turnover/income of up to £25m (exclusive of VAT and other turnover-related taxes).
Ranking
The requirement to publish the Financial Conduct Authority Service Quality Information for business current accounts can be found here